Headlines:

A 70 carat diamond discovered at a mine in Lesotho

Firestone Diamond announced that it had recovered a 70 carat white, makeable diamond from its Liqhobong Mine in Lesotho.

The company said the 70 carat diamond was recovered undamaged and would go on sale at the next tender scheduled for March. Shares in the company shot up on the news and were trading 8.9% higher to 2.94 pence in London after discovery announcement. The diamond is the largest found so far this year and follows the recovery of a 46-carat, gem quality white rock in December, which sold for over $1 million. Firestone Diamonds plc is an AIM-listed United Kingdom-based company. It operates in Lesotho and Botswana.

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The Liqhobong Diamond Mine is owned 75% by Firestone and 25% by the Government of the Kingdom of Lesotho.Firestone commenced production at the Liqhobong Mine in 2016. A total of 1.9 million tonnes and 0.472 million carats was depleted as a result of mining. Liqhobong boasts a diverse diamond assortment offering high-quality stones, including large white and yellow diamonds and intense fancy yellow stones. Firestone’s strategy is to become a mid-tier diamond producer, producing up to 1 million carats a year. Lesotho is emerging as one of Africa’s significant new diamond producers.

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